Post#169 » by younggunsmn » Sun May 30, 2021 2:32 am
Let me just put it this way, Glen Taylor built his fortune using lawyers and legalese to his advantage.
If there was a binding way to put keeping the team here into a contract, he would have found it.
He just got called out by a partner on using a fake 3-year transition in an attempt to prevent the buyers from having to buy out a minority shareholder(s?). Glen is as slick and dirty as they come even if he has proven to know absolutely nothing about basketball.
It's just very hard if not nearly impossible to put post-transfer conditions into place when an asset changes hands.
You kind of lose the right to tell someone what to do with an asset once you give it up.
The same is often true with inheritance issues.
Now if he sells an asset and that asset has a binding contract with a 3rd party, the buyer inherits that contract and is bound to it.
But a penalty for breaking a lease is only as enforceable for as much as you can prove damages.
The NBA is in a tough spot because there are certain rules they have to play by to steer clear of antitrust issues.
The have to appear as an entity governing 30 competing franchises.
If they look like one company, they become a monopoly.
If those 30 franchises appear to be colluding, they run afoul of antitrust laws too.
The NBA can't come out and say they are keeping the team here forever or put it in writing, the choice of where to locate their franchise has to appear to be in the hands of the owners and not the NBA or things get very very murky.
That doesn't mean the other 29 owners can't veto a proposed move once that possibility is tangile and not theoretical.
There will be a shakedown for a new arena and slyly crafted relocation threats soon after power is transferred, mark my words.
It was inevitable no matter who bought the team. There will be talks of development and community and whatever other buzzwords sell because we now live in a world where PR is king and reality takes a back seat and building a new arena for a billionaire who owns a team that at times can attract fewer viewers on TV than the number of seats in said arena will solve all our problems, when a run down shack in the metro costs 300k these days.